Andrew Hochberg formed commercial real estate investment firm Next Realty, L.L.C. in 1998. Next Realty invests in commercial real estate assets, currently holding a portfolio comprised of 27 properties in nine states and the District of Columbia. As a leading niche investor in neighborhood retail centers, industrial properties and parking properties, Next Realty investments total more than 1 million square feet of space, with a combined value in excess of $250 million. Next Realty has offices in Chicago and Washington, DC and employs 30 professionals.
As part of its value-add real estate strategy, Next Realty has been active in many redevelopment projects including One Milwaukee Place in Wheeling, the Sports Authority building at 620 N. LaSalle Street in Chicago, and various health care properties.
Prior to founding Next Realty, Andy held several positions at Sportmart, a family-owned big-box retail sporting goods chain. He began his career as Real Estate Director in 1987 and eventually became CEO. He successfully established real estate strategic direction, arranged financing, recruited and trained management on all levels, and managed the company’s IPO. Andy negotiated Sportmart’s merger with Gart Sports in 1998, creating the second largest sporting goods retailer in the United States.
Andy has made a number of private equity and venture capital investments, most notably as a seed investor in Tap Room Gaming, now the seventh largest video gaming terminal operator in Illinois.
Andy is also co-founder of Hilco Real Estate Services, a leading provider of appraisal, disposition, and lease restructuring services to asset-based and traditional mortgage lenders, turn- around managers, attorneys and accountants, and institutional and venture capital investors. He has served as a director of CASCO (Chicago Association of Shopping Center Owners), Prism Mortgage Company, LR Development, Gart Sports, and Art.com.
Andy is also a key leader in the Chicago Jewish community. He was recently elected Chairman of the Jewish United Fund / Jewish Federation of Metropolitan Chicago, one of the largest not-for-profit social welfare institutions in the state, and will start serving his term in September 2018. He currently serves as Chairman of the JUF’s Overall Planning and Allocations Committee, which decides where funds should be allocated. In 2008, Andy was the JUF General Campaign Chairman, and during his term, he successfully led a record-breaking annual campaign of $83.6 million. He has served in a number of other roles at JUF and has led fundraising for the Jewish Day School Guaranty Trust Fund. Andy is Treasurer and Trustee of his family’s charitable entity, the Hochberg Family Foundation, which has allocated approximately $20 million since 2008. Andy also served, by presidential appointment, on the United States Holocaust Memorial Committee.
Andy earned his undergraduate degree in Economics from the University of Pennsylvania Wharton School of Business and his Juris Doctor from Northwestern University.
Andy resides in Highland Park, Illinois, with his wife, prominent Lake County pediatrician Dr. Laurie Hochberg, and their four children.